Instacart’s stock is on track for its lowest close since its September IPO

The stock of grocery-delivery app Instacart, which trades as Maplebear Inc.
CART,
-5.17%,
is down 4.3% Thursday to put it on track for its lowest close since its initial public offering in September, according to Dow Jones Market Data. The stock is well below its IPO issue price of $30, trading last at $24.42. The stock has fallen 27.5% from a closing high of $33.70 on its first day of trade on Sept. 19.